MarTech Interview with Ranjan Kumar, CEO and Founder of Entropik Tech

Emotion AI is set to become a game-changer for many industries; Ranjan Kumar, CEO and Founder of Entropik Tech shares why while taking us through Entropik’s growth story:

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Welcome to this MarTech Series chat Ranjan, tell us more about Entopik’s story and the inspiration behind the platform…take us through some recent innovations!

Entropik’s story revolves around developing disruptive technologies to understand human emotions.95% of our experience is subconscious, and only 5% is what Humans can rationalize. Our pursuit is to unlock the 95% which can bridge the experience disparity between Humans and the digital world.

Our AI leverages human senses of Face expression, voice tonality, eye gaze movement to provide deep dive into where users are attentive, what draws emotions and where they choose to focus.

We will be introducing eye tracking for mobile, which has been a significant struggle for AI companies to master. The added movement and no fixed eye gaze present a host of difficulties. It is exhilarating to think about all the applications this will have for marketers as the way we interact with ads and videos on phones is way different than the ads we see on our computers.

The holy grail of marketers has been to understand the deep subconscious preferences of their customers and cater to that. Our Technologies decode that for a marketer.

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AI has been a game-changer across industries today; can you highlight a few top trends in emotion AI and the impact it’s been having for marketers worldwide (with some key examples?)

One of the most significant impacts for marketers is that it gives them detailed data on what potential customers think of their in-store and digital experiences and perceptions in the media. By tracking real-time reactions to what is being tested, brands can gain insight quickly and accurately like never before.

For instance, for an ad, we can show you which parts of the ad they paid attention to and engaged with, which moments made them happy, which parts helped them focus. Conversely, we can show which parts of the ads made them disengage or made them unhappy.

It allows brands to make better ads that connect with an audience emotionally; this drives ROI.

In what ways will newer AI sophistications lead to a renewed way for marketers to identify metrics that matter?

Historically, marketers have relied on what customers say as a means to capture their POV. The ability to understand customers’ subconscious/emotional behavior without asking provides their true preference of customers. While the business goals for marketers stay the same, emotion AI presents an evolved way of serving the same accurately.

The impact of AI to track emotion in end users, prospects, and customers can serve to give deeper customer insights to marketers; what are some top practices marketers of today need to follow to capitalize on this?

Privacy. You cannot ethically ask participants for that level of data without building in privacy protections. We purposely created a dashboard that allows us to capture voice, eye movement and video – but which doesn’t contain individual user data. The platform only tracks critical engagement metrics like reactive sentiment, breaking down that data by the second.

Another good practice is to make sure you are getting enough data points to pull accurate data. Typically, we recommend having 50 respondents in your target market minimum. We currently have access to 60 million respondents in 120 countries, as many of our clients operate internationally. Just because a commercial performed well in one market doesn’t mean it will be received well in another country.

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In what ways can marketers use these insights to drive marketing gains with improved customer experience and customer journeys?

We’ve done some studies and found that 80% of executives believe they understand their consumers’ emotions – but only 15% of consumers agree. So, there is a significant disconnect between marketers and their customers.

New AI sophistications are allowing us to bridge that emotional gap between companies and consumers. By collecting data without a creator bias -creating the product they want, not necessarily what the customer wants- they can get accurate customer perceptions, including attention and engagement, as well as positive and negative emotions.

A few thoughts on the future of AI in marketing and sales?

The last decade has been about companies undergoing Digital transformation to raise efficiency. The upcoming decade is likely to ensure the transformation has a layer of intelligent and emotionally perceptive experience for more extensive adoption. CI and CX are firmly poised to leverage AI and, more so, Emotion AI to deliver this.

And lastly, some key benefits for companies still at the early stage of considering the use of AI?

A Forrester report stated that a one-point increase in customer experience translates to about $200 million in annual ROI for enterprises. In plain speak, better customer experiences lead to better businesses. Emotion AI provides the right data for companies to improve that customer experience.

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